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NRI
INVESTMENT
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Non-Conventional Energy Sources
Foreign investors can enter into a joint venture with an Indian partner for financial and/or technical collaboration and also for setting up of renewable energy-based power generation projects. The liberalised foreign investment approval regime is aimed at facilitating foreign investment and transfer of technology through joint ventures; 100% foreign equity is permissible. The government is encouraging foreign investment in wind, solar photovoltaic, solar thermal, small hydro, biomass, co-generation, geothermal, tidal and urban and industrial wastes-based power projects on build-own-operate basis.
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 Communication & IT
In basic, cellular mobile, paging and value added services, and global mobile personnel communications by satellite, FDI is limited to 49%, subject to grant of licence from the department of telecommunications and adherence by the companies (that are investing and the companies in which investment is being made) to the license condition for foreign equity cap and lock-in-period for transfer and addition of equity and other license provisions. There exists an enormous demand-supply gap for basic services, with the average waiting period for telephone connections exceeding one year. ISPs not providing gateways (both for satellite and submarine cables), infrastructure providers providing dark fibre (IP category), electronic mail and voicemail. Up to 100% FDI in telecom manufacturing activities on automatic approval basis.
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 Oil & Natural Gas
In exploration and production, oil and gas fields are open to the private sector as well as for foreign participation under production sharing contracts. Foreign investment permitted up to 100% in small oil fields. For gas fields developed privately, promoters are free to sell gas at market prices for petroleum products and pipeline sector; 51% FDI is permitted; 100% wholly owned subsidiary is permitted for investment /financing.
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 Coal-based Power Projects
Private Indian companies setting up or operating power projects as well as coal or lignite mines for captive consumption are allowed FDI up to 100% for setting up coal processing plants subject to the condition that the company shall not do coal mining and shall not sell washed coal or sized coal from its coal processing plants in the open market and shall supply the washed or sized coal to those parties who are supplying raw coal to coal processing plants for washing or sizing. Up to 74% is allowed for exploration or mining of coal or lignite for captive consumption. In all the above cases, FDI is allowed up to 50% under the Automatic Route subject to the condition that such investment shall not exceed 49% of the equity of a public sector undertaking.
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Acquisition, Sale etc of Immovable Property by Foreign Banks
Foreign banks should ensure while undertaking such transactions in immovable property that they are in accordance with the provisions of the Act and directions issued, if any, by the Department of Banking Operations and Development of Reserve Bank.
Applications for fresh acquisition or holding of immovable property in India (other than those covered under the general permissions granted by the Reserve Bank of India) should be made to the Reserve Bank and for sale, transfer of property (other than tea, coffee, rubber, etc. plantations or those covered by general permissions granted by Reserve Bank) for sale/transfer of tea, coffee, rubber etc. plantations should, however, be made in together with the particulars of productivity, income, etc.
Companies which acquire or hold any immovable property in India in terms of the general permission are required to submit to the Reserve Bank a declaration in form IPI 5 not later than 90 days from the date of acquisition of the immovable property. The above general permission does not apply to foreign companies, which have been permitted under Section 29 of the Act to open liaison offices or to post representatives in India.
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